'What are the technical reasons for the new cedi notes?’

The Ranking Member of Parliament’s Economy and Development Committee, Kojo Oppong Nkrumah, has demanded that the Bank of Ghana (BoG) appear before Parliament to explain the technical reasons and cost of introducing the new Heritage Series banknotes.

He said Parliament had not been adequately briefed on the redesign, including the selection of personalities featured on the notes and concerns about the accuracy of some identities.

Mr Oppong Nkrumah made the remarks at a press conference on Friday, November 13, where he addressed concerns about the 2027 Budget and other government decisions.

He questioned why the central bank had introduced the new currency without first providing the parliamentary committees responsible for its oversight with the necessary information.

“What are the technical reasons for which our currency is being changed? How much does this exercise cost us? How do they respond to the misrepresentations of identities on the face of some of the notes that they have presented?” he asked.

The Ofoase Ayirebi MP said Parliament would also demand a copy of the due diligence report on the designs, including details of those who approved it.

He cautioned that the Bank of Ghana would be required to account for the decisions behind the redesign and any additional costs that might arise from correcting errors in the designs.

“We want to serve notice, and notice is hereby served. They will have to show up before Parliament and answer all of these questions,” he said.

The concerns follow the launch of the Ghana Cedi Heritage Series by President John Dramani Mahama on Thursday, November 12, at the Bank of Ghana headquarters in Accra.

The redesigned notes retain the existing eight denominations: GH¢1, GH¢2, GH¢5, GH¢10, GH¢20, GH¢50, GH¢100 and GH¢200.

They feature prominent Ghanaian personalities, historic landmarks and Adinkra symbols.

The personalities include market trader Agnes Oforiwa Tagoe-Quarcoopome on the GH¢1 note, Cardinal Peter Dery on the GH¢2, educationist J.E.K. Aggrey on the GH¢5 and former Supreme Court judge Annie Jiagge on the GH¢10.

Other personalities featured are composer Ephraim Amu on the GH¢20, national flag designer Theodosia Okoh on the GH¢50, former United Nations Secretary-General Kofi Annan on the GH¢100 and Ghana’s first President, Kwame Nkrumah, on the GH¢200.

The Bank of Ghana says the new notes have enhanced security features, improved durability and smaller sizes to make them easier to handle.